Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.0.8
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 9,786,329 $ 6,176,575
Accounts receivable, net of allowance for doubtful accounts of approximately $187,000 and $381,000, respectively 7,361,697 5,828,389
Prepaid expenses and other current assets 1,336,097 2,704,787
Total current assets 18,484,123 14,709,751
Property and equipment, net 11,793,189 11,193,355
Other assets:    
Security deposits 596,073 585,083
Restricted cash 1,164,007 1,163,872
Goodwill 5,222,088 5,124,130
Intangible assets, net 31,705,263 35,048,818
Other assets 1,089,404 1,125,652
Total other assets 39,776,835 43,047,555
TOTAL ASSETS 70,054,147 68,950,661
Current liabilities:    
Notes payable - non-related parties 2,027,724 625,000
Notes payable - related parties 125,000 310,714
Equipment financing obligations 202,805 245,138
Escrow payable 0 295,000
Accounts payable and accrued expenses 10,496,322 11,161,550
Related party payable 0 226,148
Current liabilities from discontinued operations 55,000 55,000
Total current liabilities 12,906,851 12,918,550
Long-term liabilities:    
Notes payable - non-related parties, net of discount 36,511,327 36,788,987
Notes payable - related parties 1,267,114 1,478,081
Equipment financing obligations 123,711 167,614
Derivative liability 7,082,401 10,515,472
Deferred tax liabilities 147,341 0
Other long-term liabilities 57,442 131,627
Total liabilities 58,096,187 62,000,331
Stockholders' equity:    
Preferred stock, $0.01 par value, 10,000,000 shares authorized, 27,883 and 23,525 shares issued and outstanding 279 235
Common stock, $0.01 par value, 18,000,000 shares authorized, 6,204,169 and 6,077,071 shares issued and outstanding 62,041 60,770
Capital in excess of par value 172,659,066 166,625,595
Accumulated deficit (160,763,426) (159,736,270)
Total stockholders' equity 11,957,960 6,950,330
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 70,054,147 $ 68,950,661